Company Report | [BMRI] Stellar Performance in FY23

Coal Average Selling Price Increase

BMRI scored a stellar performance as their FY23 Net Profit recorded at IDR 55.064 T, an increase of 33.7% YoY (FY22: IDR 41.172 T, QoQ + 15.6%). This was supported by Net Interest Income (NII), which experienced a solid increase in FY23 to IDR 95.887 T (FY22: IDR 87.903T, YoY +9.08% & QoQ -2.17%). The other interesting thing to be highlighted is BMRI’s Non Interest Income in FY23, which grew 15.5% YoY to IDR 40.648 T (FY22: IDR 35.180T), along with the Operating Expenses that had no significant increase, as it only rose by 1.14% YoY, thus pushing PPOP to increase 17.3% YoY to the level of IDR 84.791 T in FY23. Aside from the significant efficiency & growth of Non-Interest Income, lower provisioning costs contributed to BMRI’s improved earnings in FY23. As for the NIM level of BMRI, it was recorded at 5.48% in FY23 (+1 Bps YoY), almost close to its pre-Covid-19 level performance.

Asset Growth

BMRI scored a stellar performance as their FY23 Net Profit recorded at IDR 55.064 T, an increase of 33.7% YoY (FY22: IDR 41.172 T, QoQ + 15.6%). This was supported by Net Interest Income (NII), which experienced a solid increase in FY23 to IDR 95.887 T (FY22: IDR 87.903T, YoY +9.08% & QoQ -2.17%).